I made a complete balls up So I got a hard lesson in trading

Yep thats right I had one of the hard lessons today. I am a fully paid up member of the TWIT club. I had a couple of successes with the trading of the horses then I did one and could have left it with a small loss of 60 cents but I went on to try and turn it to a profit even if it was going to be small and I end up losing about 75% of my bank which is my worst day of trading ever. What I have left is not enough to trade with and I and bloody annoyed with myself.

I used the green up button and the software did all the damage for me, but it was my own silly fault for not leaving it alone. The one that did most of it was a lay bet with 7.59 at odds of 8.20 and of course the horse went on to win. I pressed the button to do some greening up and I should have left it alone. I blame myself for using BetTraderPro live and in running not realising all the trouble I could get myself into. The horse race was a long race of 4 miles and that was part of it too. The horse was in the leaders at the start then the odds went long – up to about 20 or so and should have been OK to lay but in this race he had plenty of time to get back into it and win it.

I should have stuck with BetIE and I would have been safer I think. .

So what do I do now? Well for a few days at least I will be using the learning mode in BetIE because of having no funds hardly in my account. I was looking at the possibility of moving to Betdaq. The reasons being the lower minimum bet and also the lower cost of commission. The only problem with that is the lack of software to do the trading. I like using Betty the betting bot and I actually like the BetTraderPro software also. I am considering learning how to do some programming and make up my own software to use Betdaq and also be native on my AppleMac. Now that would be nice, even though I have Windows inside Parallels on my iMac I would rather not have to run Windows at all. I think there is certainly a need for some betting software for the Mac and also for Betdaq.

I was looking at some other software called MarketFeederPro and it looks very interesting although today when trying to run it to make some test bets in its learning mode it wasn’t working as it had been earlier in the day. What I like about it is the way that you can do triggered betting with a mild form of programming which is kind of like using the Automator that’s in my Mac OSX operating system and is pretty easy. I have a suspicion that it is written as more or less an Excel scripting language and I don’t think it is robust enough for professional use.

Another good point for it is that it is available for a once off price although it is more expensive than BetIE. It also has a ladder interface in it but it is not as nice as the ladder interface in BetTraderPro. The learning mode makes it worth spending some time looking into a little more as I have a test version for 14 days for assessing properly.

So was the day bad enough losing most of my bank – No not really, to put the icing on the cake England have to lose at Wembley to Croatia putting them out of the Euro2008 competition. At least I wasn’t trading on the game. I had seen Croatia play in the last World Cup and I knew that were going to be a tough side to play against but England only had to draw. Going 2 nil down inside 14 minutes was a bad start and even though bringing back to 2-2 was some compensation they could keep it and let in another goal.

I probably would not have been greened up by the time the first goal went in either. I would not have made any money on the under 2.5 goals market even if I had some money to trade with………